British engine maker Rolls-Royce cutting 4,600 jobs

phys.org | 6/14/2018 | Staff
tictac399 (Posted by) Level 3
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Rolls-Royce, the British maker of plane engines, said Thursday that it plans to cut 4,600 mainly British jobs by 2020, adding to thousands of cuts already announced in recent years.

"Rolls-Royce announces the next stage in our drive for pace and simplicity with a proposed restructuring that will deliver improved returns, higher margins and increased cash flow," the group said in a statement.

Company - Engines - Airbus - Boeing - Aircraft

The London-listed company, whose engines are used in Airbus and Boeing aircraft, said the latest cuts would produce £400 million ($536 million, 454 million euros) of annual cost savings by the end of 2020.

Rolls has faced a tough trading environment in recent years on weak demand for its plane engines and marine power systems.

Although it...
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